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Four FinTech start-ups – CashFree, D-Rewards, Notifie and ftcash – will join PayPal’s ‘Start Tank’ India Incubator in Chennai. They were selected from over 125 start-ups in India, vying for a year-long incubation programme with PayPal.
The announcement was made after the final round of pitching during the fourth Start Tank Incubation Challenge on Friday, in which the start-ups had applied, said a press release from PayPal.
Launched in 2013, the incubator provides an obligation-free environment for early-stage start-ups, to evolve at its exclusive facility in PayPal’s technology centre in Chennai. PayPal offers incubated start-ups with technology and business mentorship, infrastructure support, and networking opportunities.
“I am excited to see the entrepreneurial space take-off in just a few years. Today, India ranks third among global start-up ecosystems. All of the incubated start-ups so far have either secured funding or are finalising strategic partnerships,” said Anupam Pahuja, General Manager (Technology), Asia-Pacific, PayPal, in the release.
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